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Jan 24

The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It

Posted by abiao at 17:24 | Others | Comments(0) | Reads(7673)
Bought a book just now recommended by a friend of mine, The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It, what a looong name. The book is written by a Wall Street Journal reporter Scott Patterson and has got brilliant editorial reviews, for instance:
“Scott Patterson has the ability to see things you and I don’t notice. In The Quants he does an admirable job of debunking the myths of black box traders and provides a very entertaining narrative in the process.”
--Nassim Nicholas Taleb

"The Quants will keep hedge fund managers on the edge of their Aeron chairs, while the rest of us read in horror about their greed and their impact on the wider economy. A gripping tale right until the last page...but I fear this is perhaps not yet the end of the story."
--Paul Wilmott


Below is a short video of an interview with the author, where Scott Patterson explains a group called "The Quants" developed complex systems to trade securities such as mortgage derivatives, which were at the heart of the crisis.


Sounds like a good book for bed reading, order one if you also fancy it, The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It
The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It
  


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